Dubai – Mubasher: Drake and Scull International (DSI) on Monday posted that its board has assigned the Audit Committee to appoint a global investigation firm and form any internal committee as required to review and investigate the company’s historical transactions.
The investigation report will be submitted to the board upon completion, according to a statement.
Sources had previously revealed that DSI’s Audit Committee aims at considering and investigating acts of the previous executive administration.
This Audit Committee seeks to hire an independent third-party company to investigate the company’s previous transactions, according to the sources.
DSI’s board has reviewed the latest updates of the company’s restructuring plan on Sunday’s meeting.
On 3 October, DSI announced the completion of the capital restructure plan, which was launched in the beginning of 2017, after increasing the capital to AED 1.07 billion through pumping AED 500 million by Tabarak Investment.
